Summary: Kokomo School Corp., Indiana; School State Program

S&P Global Ratings assigned its 'AA+' program rating and 'A' underlying rating for credit program and stable outlook to Kokomo School Corp., Ind.'s series 2019 general obligation (GO) bonds and affirmed its 'AA+' program rating and 'A' underlying rating, with a stable outlook, on the district's existing GO debt. Even though its local economy is stable, the district continues to have a moderately concentrated property tax base, which we think will likely remain concentrated due to a reliance on manufacturing. We believe this will likely continue to constrain economic metrics. After two consecutive positive financial performances, we expect officials will likely continue to strive to add to available reserves during the next few years as they continue to right-size despite

...S&P Global Ratings assigned its '##+' program rating and 'A' underlying rating for credit program and stable outlook to Kokomo School Corp., Ind.'s series 2019 general obligation (GO) bonds and affirmed its '##+' program rating and 'A' underlying rating, with a stable outlook, on the district's existing GO debt. Even though its local economy is stable, the district continues to have a moderately concentrated property tax base, which we think will likely remain concentrated due to a reliance on manufacturing. We believe this will likely continue to constrain economic metrics. After two consecutive positive financial performances, we expect officials will likely continue to strive to add to available reserves during the next few years as they continue to right-size despite small enrollment decreases. We expect overall net debt will likely remain very manageable because the district does not currently have any additional debt plans. The underlying rating reflects our opinion of the district's:...

Summary